Nuverra Environmental Solutions emerged from bankruptcy protection with more than $70 million in new financing provided by ACF Finco I, an entity managed by Ares Management, Ascribe Capital, and Gates Capital Management.
Nuverra Environmental Solutions entered into a restructuring support agreement with Wilmington Savings Fund and Wells Fargo to complete a comprehensive recapitalization.
Nuverra Environmental Solutions has entered into a privately negotiated restructuring support agreement to initiate a proposed debt restructuring plan. Wells Fargo is serving as agent for the lender group in the transaction.
Nuverra Environmental Solutions announced it revised its existing revolver to increase the maximum availability under the Revised Facility from $200 million to $245 million.
Nuverra Environmental Solutions announced it converted its existing bank facility into a $200 million revolver. Wells Fargo served as joint lead arranger, joint bookrunner and administrative agent, and RBS Citizens and Bank of America served as joint lead arrangers and joint bookrunners.
Nuverra Environmental Solutions announced it amended its existing $325 million credit facility to increase the permissible maximum total debt leverage ratio. Wells Fargo Bank served as administrative agent.